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Gold/Mining/Energy : Century Mining Corporation

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To: prometheus1976 who wrote (541)	12/21/2011 5:45:03 PM
From: hubris33	Read Replies (1) of 545

Yeah, following CMM.v for some 6+ years has been quite an education! Lots of "lessons learned" in retrospect: - Bad management missed convertible debenture deadline causing unneeded dilution - Constant PPs an indication of financial stress - Delay of Delivery of Larger Trucks for Open Pit Operations - Mining without proper drill results lead to inability to control grade & death of OP - Building up of "deferred stripping" as apparently a way to make a profit and hide cash drain - Venturing off in to Peru on silly acquisitions - Missing payment on purchase of Second Mine in Peru - that was a good mine - and loosing the property - Getting Snookered by Algamarca to take Roserio de Belin tinker toy mine as an ante to Shahuindo deal - Inability to hang tough and out wait SUE's cash in order to take over SUE and Shahuindo - No clue as to how ABX kept extending the offer for NG for six months - Terrible accounting -got CMM in hot water with Regulators once reveled by financial accounting hatchet job. - Inability to get Major European Banks interested in project - Silly plans to "mine to raise cash to build needed infrastructure" - only rarely works - Micro-management of mining and milling operations form Home Office - Leasing office space from company controlled by President and VP - Transferring funds between companies controlled by the same BOD - Selling controlling interest to the Russians - In ability to perform on turn around plans - mining left over scraps to make enough money to go get deep ore - Expecting good consistent production & economics from jack-leg/slusher mining in a jumbo/LHD world - and a whole litany of how the Rules don't protect minority shareholders, just monied interests - Replacing management with new management is not always positive - need experience Probably a few more items if I went back and looked at history. But hey, in the end I made a few bucks trading CMM.v shares (WTG.to for the last batch) and I got a ring side seat for those shenanigans and one heck of an education into "how things work!"

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